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simple 4hr gbp/usd strategy

  • #1
  • First Post: Jan 2, 2007 2:48pm Jan 2, 2007 2:48pm
I am still trying to develop this:

use 4hr charts on gbp/usd.

only indicator is:

T_S_R Signal Line 50,3,0 settings.

Buy when candle closes above line and >20 pips difference between close and signal line.

Sell is reverse of above.

buy 2 lots. first has TP of 30 pips
second lot just let run till opposite signal.
when 2nd lot at 75pip profit move SL to B/E

no trailing stop.

stop at 75 pips.

maybe an EA could be developed for it.

thoughts?
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  • #2
  • Jan 3, 2007 9:36am Jan 3, 2007 9:36am
Quoting HAGeek
I am still trying to develop this:

use 4hr charts on gbp/usd.

only indicator is:

T_S_R Signal Line 50,3,0 settings.

Buy when candle closes above line and >20 pips difference between close and signal line.

Sell is reverse of above.

buy 2 lots. first has TP of 30 pips
second lot just let run till opposite signal.
when 2nd lot at 75pip profit move SL to B/E

no trailing stop.

stop at 75 pips.

maybe an EA could be developed for it.

thoughts?
Hi

Have you tried this method in any way?
How is its practicality and performance?

Thanks for your post

howard
Regards
  • #3
  • Jan 3, 2007 10:08am Jan 3, 2007 10:08am
Quoting howard
Hi

Have you tried this method in any way?
How is its practicality and performance?

Thanks for your post

howard
i can already tell you this method would work, it's simple and straight forward
  • #4
  • Jan 3, 2007 11:20am Jan 3, 2007 11:20am
Quoting hilmy83
i can already tell you this method would work, it's simple and straight forward
Wht Not use This Method on 1HR charts, looking back at the Charts seems to be less risk with more success.
  • #5
  • Jan 3, 2007 1:46pm Jan 3, 2007 1:46pm
seems to work better on 4hr charts.... seems less prone to whipsaws..

problem is being there to close and reverse when crosses through signal line.

thats why an indicator with alerts... or an EA to automatically trade would be good..

thats another reason i like 4hr... gives me SOME time to not be at computer trading.

anyways... looks like about 500-600 pips in december if you manually look at charts..

dunno about other months.

i like easy trading plans... just have your MM be really good.

like today... got stopped out overnight with huge drop in gbp/usd... but got in a little late on a sell but still at +100 pips on sell side.

will see how it goes.
  • #6
  • Jan 3, 2007 2:22pm Jan 3, 2007 2:22pm
Quoting hilmy83
i can already tell you this method would work, it's simple and straight forward
Thanks for the encouragement
Regards
  • #7
  • Jan 3, 2007 2:51pm Jan 3, 2007 2:51pm
So if a 4h Bar closes > sig line, but the close is < 20 away i would simply enter a long just as soon as price is > 20 away? In other words not having to wait for another 4h close before entering? Thanks is advance.
  • #8
  • Jan 3, 2007 5:40pm Jan 3, 2007 5:40pm
yeah wait till >20 pips away.

i was trying to reduce the number of whipsaws as it seems that sometimes a candle will pierce the signal line but not close...

hey maybe all we need to do is do a buy or sell when >20 pips (need to look into this number) between signal and current price... irrespective of if the candle has closed yet or not.
  • #9
  • Jan 3, 2007 6:33pm Jan 3, 2007 6:33pm
Quoting HAGeek
I am still trying to develop this:

use 4hr charts on gbp/usd.

only indicator is:

T_S_R Signal Line 50,3,0 settings.

Buy when candle closes above line and >20 pips difference between close and signal line.

Sell is reverse of above.

buy 2 lots. first has TP of 30 pips
second lot just let run till opposite signal.
when 2nd lot at 75pip profit move SL to B/E

no trailing stop.

stop at 75 pips.

maybe an EA could be developed for it.

thoughts?

hi HAGeek,

i am still newbie in forex. i like to learn and explore the forex system. your system look promising but yet to try in my trading.

what is the T_S_R signal line? where can i find it ? i am mt4 user
your stop loss for the system?

have you tested for other currencies eu, yen, cad? the performance

have a nice day.[img]images/icons/icon10.gif[/img]
  • #10
  • Jan 3, 2007 6:43pm Jan 3, 2007 6:43pm
Hi HaGeek,

I got the indicator placed on the 4 hour chart. In you description you say the parameters are 50, 3, 0 but the indicator properties shows it is 15, 3, 0 .

Which one to go with.

--Syed
  • #11
  • Jan 3, 2007 6:57pm Jan 3, 2007 6:57pm
syed,
Just double click on the values and change them to 50, 3, 0
  • #12
  • Jan 3, 2007 7:02pm Jan 3, 2007 7:02pm
Quoting HAGeek
I am still trying to develop this:

use 4hr charts on gbp/usd.

only indicator is:

T_S_R Signal Line 50,3,0 settings.

Buy when candle closes above line and >20 pips difference between close and signal line.

Sell is reverse of above.

buy 2 lots. first has TP of 30 pips
second lot just let run till opposite signal.
when 2nd lot at 75pip profit move SL to B/E

no trailing stop.

stop at 75 pips.

maybe an EA could be developed for it.

thoughts?
Sorry whats tsr line? couldnt open the file.....opened first one fine...second one couldnt open. thx
  • #13
  • Jan 3, 2007 8:13pm Jan 3, 2007 8:13pm
it should work...

its for metatrader

does anyone else have the same problem with the second indicator?
  • #14
  • Jan 3, 2007 8:29pm Jan 3, 2007 8:29pm
just change the parameters... from the standard parameters to 50,3,0

i have not tried it on other curriencies... gbp/usd just moves a lot.

tsr signal line was originaly on another forum.... i was using it first with the color changes when the slope shifts to signal trend changes but found it was too late of a signal.

i saw that using a higher value on the signal line got me in when it crossed the price.
  • #15
  • Jan 4, 2007 11:23am Jan 4, 2007 11:23am
Quoting hilmy83
i can already tell you this method would work, it's simple and straight forward
are u currently using the indicator in trading?
  • #16
  • Jan 4, 2007 11:51am Jan 4, 2007 11:51am
Sorry just clarification, you buy when candle closes 20+ pips greater then previous candle? with sl75 pips?tp sounds right......
and vice versa for sell.....If i am correct by this, you TP first lot 30 pips....let second one ride? how long on average would you say roughly pip count,and or days etc? You were saying 4hr chart doesnt stop you out much? Much meaning never or? MAYBE some more questions you are thinking? thx man...look forward to your reply, nice to hear what peoples track records are when stating methods of trading later
  • #17
  • Jan 4, 2007 1:02pm Jan 4, 2007 1:02pm
i am using the indicator in trading.

i started using this method for only a couple of days and seems to be good.

up 180 pips on gbp/usd right now... but its in a nice trend.. dunno what will happen when market ranges.

open trade when current price is 20 pips away from signal line.

i don't think we need to wait for close of candle.


hey... just to be certain here... i am throwing this idea out to everyone as something that looks to be good. any other suggestions and / or ideas are welcome.

for example the 2 lot idea came about because i was thinking of a way to minimize the spikes that happen corresponding with hitting a SL. so why not have 2 lots, one has a fixed TP the other let run.

maybe the fixed TP will get hit and give me some + pips before reverse and neg on other lot... get what am saying?

maybe it would reduce my losses.

anyways i am doing this and i am also trading a daily breakout with eur/usd which can be found in the other thread. (50 pip TP, +55 order on long, 35 on short, SL are different for long and short also, kinda stradle trade or hedging)

txs!
  • #18
  • Jan 4, 2007 1:23pm Jan 4, 2007 1:23pm
So the daily BO method you are using is like what Kamanda does? Only you are using Eur/US rather than Gbp/US?
How is that working for you?
  • #19
  • Jan 6, 2007 12:03pm Jan 6, 2007 12:03pm
yup the kamanda method.

just on eur/usd... not too bad.

+ so far.
  • #20
  • Jan 8, 2007 8:39am Jan 8, 2007 8:39am
Can the TSR signal line change color mid-candle, or does it always wait for the candle to close before making a color change?
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